In this special financial roundtable episode of Honey & Hustle, I am joined by Andrea Inoken and Corey Barbour to discuss grant funding and securing commercial loans. While offering free money to businesses, grants can be highly competitive. Entrepreneurs should align their business with organizations that match their industry or geographical location to enhance their chances of securing grants successfully. Grants also often come with post-award reporting obligations. Entrepreneurs must understand the reporting expectations and be ready to demonstrate how the grant funds were utilized and the impact they had on the business.
Corey emphasized the importance of evaluating their capacity to repay the loan and the character of the borrower. Understanding your cash flow and financial position is essential before taking on debt. This aligns with the idea of being prepared to answer questions about how the loan will be repaid and demonstrating a track record of responsible financial behavior.
Want to learn more? Find Cadence Cash and Barbour Companies online at https://cadencecash.com/ and https://www.barbourcompanies.com/.
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